Business Administration

Mission

The mission of the Department of Business is to provide experienced, skilled and supportive faculty who offer relevant curricula that will help prepare students to thrive in and face the challenges of an ever-changing world. More specifically, the department strives:

to prepare students for ethically and socially responsible roles in business, not-for-profit organizations and society in general;

to develop in students the ability to recognize, analyze, and solve problems;

to prepare students to speak and present in front of various audiences in an articulate and compelling manner;

to help students achieve their personal and career goals; and

to prepare students for entry-level positions in either the private or public sector and/or to prepare students for coursework at the graduate level.

Major Description

The Bachelor of Science degree in Business Administration is designed to work together with the University's liberal arts core curriculum to achieve the following goals:

to facilitate students' acquisition of basic business knowledge in the functional areas of business including, but not limited to, accounting, business law, economics, finance, management, and marketing;

to facilitate students' acquisition of technical skills and competencies in quantitative techniques;

to provide students with the opportunity to focus their business studies by selecting one of six concentrations: Management, Marketing, Economics, International Business, Social Entrepreneurship or Health Sector Management.

to provide experiential opportunities, including at least one credit-bearing internship, to hone students' skills and facilitate their career exploration and professional job search;

to facilitate students' ability to integrate their knowledge of the functional areas of business with their technical skills and competencies and their professional experiences and to apply that knowledge and those skills.

Business majors must earn a minimum of a 2.0 GPA ("C") in all Business Core required courses, , business concentration courses and business elective courses.

Business minors must earn a minimum of a 2.0 GPA ("C") in all four required courses and the two business elective courses.

Accreditation

All degree programs offered by the Department of Business are accredited by The New England Association of Schools and Colleges (NEASC). The Business Administration Degree Program in the Department of Business is additionally accredited by the Accreditation Council for Business Schools and Programs (ACBSP).

Learning Outcomes

Department of Business Learning Outcomes

Demonstrate foundational knowledge in accounting, economics, finance, management, and marketing in application of concepts and theories.

Demonstrate effective skills in written and oral communications using appropriate technologies.

Demonstrate an ability to integrate the concepts of the core areas of business.

Demonstrate awareness to the importance of the ethical requirements of business activities.

Demonstrate an ability to conduct methodological, secondary research into business issues, which may relate to general business or to a specific business function, which requires familiarity with a range of data, research sources and appropriate methodologies.

Concentration Learning Outcomes

The Management Concentration covers the organizational, operational and sales aspects of management, as well as introduces non-profit management techniques.

Upon completing the concentration in Management, students will be able to:

Demonstrate an ability to apply general Management know-how in practical business situations.

Develop an understanding of business that reflects the moral responsibility of management to all relevant stakeholders and the natural environment.

Understand the nature and dynamics of social behavior relating to organizational performance in order to develop strategies to become effective in organizations.

The Marketing Concentration focuses on developing strategic and tactical marketing skills, including those used in both digital media and global environments.

Upon completing the concentration in Marketing, students will be able to:

Develop an understanding of how marketing initiatives by business and not-for-profit organizations impact society and the economy.

Demonstrate knowledge of the strategic and tactical use of the primary decision making areas of marketing used by organizations.

Demonstrate knowledge of traditional and digital channels of distribution.

Understand the uses of traditional and digital promotional methods.

Understand the strategic importance of global marketing and be able to develop tactics for an organization’s global marketing thrusts.

The Economics Concentration focuses on understanding the impact of the economy on individuals, society and global business development.

Upon completing the concentration in Economics, students will be able to:

Develop an understanding of economic thought regarding the incentives.

Demonstrate the conditions under which the market allocates resources efficiently and under what conditions it fails to produce socially optimal outcomes.

Demonstrate the assumptions and limitations of the neoclassical school of thought reflected in both micro and macroeconomic models.

Understand the key concepts in macroeconomic analysis and be able to demonstrate how they are impacted by external events and policy using the Keynesian model.

Understand the factors that have determined productivity trends in the history of U.S. economy development with reference to theory and empirical data.

The International Business Concentration focuses on understanding the role that cultural differences, globalization and worldwide trends play in the global marketplace. A semester abroad is required.

Upon completing the concentration in International Business, students will be able to:

Demonstrate detailed familiarity with the impact of the global economy on US businesses and organizations, utilizing appropriate terminology and concepts.

Demonstrate comprehension of cultural differences in the conduct of business and/or daily life within major global markets during a study abroad experience.

Demonstrate global awareness through an understanding of international business concepts and trends and an ability to internationalize domestically developed business methods and practices.

The Social Innovation and Entrepreneurship Concentration focuses on applying the concepts of sustainability to the creation of a new venture with triple bottom line responsibility and ecological value.

Upon completing the concentration in the Social Entrepreneurship, students will be able to:

Demonstrate an understanding and the application of the concepts of social entrepreneurship and distinguish social entrepreneurship from traditional economic entrepreneurship as well as from sustainable entrepreneurship.

Evaluate and articulate the rewards and risks of undertaking social entrepreneurship by measuring the economic, social and environmental risks and rewards (triple bottom line) of a new venture and measuring and comparing the short-term economic risks and returns of the venture with the long-term expected benefits.

Demonstrate knowledge of the ecological problems facing local and global communities as well as the ability to recognize business opportunities for entrepreneurs that arise as a result of the trend of identifying and resolving those ecological problems; Undertake this demonstration by applying those skills necessary to investigate and evaluate all the various aspects of the business and policy environment that have an impact on social entrepreneurship decisions, including an evaluation of corporate behavior in the context of environmental and social goals.

The Health Sector Management Concentration focuses on understanding how U.S. healthcare policy and systems impact business in the health sector.

Upon completing the concentration in Health Sector Management, students will be able to:

Demonstrate the ability to integrate core general management skills with sophisticated understanding of the institutions of the US health care sector.

Demonstrate knowledge of US health care economy and markets and those factors that significantly influence decision-making both at the policy level and at the level of the organization.

Utilize the terminology and concepts of health sector systems such as governmental programs, managed care, and information management to recognize and explain the importance of cost, access and quality to providers, payers and vendors.

Demonstrate knowledge of the legal systems and processes impacting healthcare, including governmental regulation, tort litigation and reform, non-discrimination and privacy legislation and access/equity of care movements in both the federal and state governments.

Minor(s)

Minor in Business Administration

A student pursuing a major other than Business Administration may, with the permission of the Business Department Chair, minor in Business Administration.

Credits

Required Courses

BUAC 201 or 201G - Financial Accounting

3

BUMK 200 - Marketing

3

BUMG 200 or 200G - Management

3

BUEC 204 or 204G - Microeconomics

3

Business Electives - 300 and 400 level courses

6

Total Credits

18

Concentrations

Concentration IN BUSINESS ADMINISTRATION

A student in their sophomore year, in the Business Administration major may, with the permission of the Business Department Chair, enroll in one of the following concentrations.

Management (any 15 credits from the following list of courses)

BUMG 301 - Organizational Behavior

3

BUMG 303 - Management of Non Profit Organizations

3

BUMG 360 - Leadership

3

BUMG 400 - Management Seminar

3

BUMK 405 - Sales Management

3

BUMG 495B - Internship (with approved Management focus)

3

Marketing (15 credits from the following list of courses as specified)

BUMK 310 - Advertising

3

BUMK 335 or 335G - Global Marketing

3

BUMK 350 - Social Media Marketing Strategy

3

BUMK 400 - Marketing Seminar

3

BUMK 405 - Sales Management

3

BUMK 495B - Internship with approved Marketing focus)

3

Economics (15 credits from the following list of courses as specified)

BUEC 370 - Money, Credit & Banking

3

BUEC 375 - International Trade and Finance

3

BUEC 380 or 380G - Economic Development of the United States OR

3

BUEC 328G - European Union OR

BUEC 331G - Global Economy OR

BUEC 332G - Economic History

BUEC 385 - Health Economics

3

BUEC 390 - Environmental Economics

3

BUEC 395 - Ecological Economics

3

BUEC 399 - Economic Topics

3

BUMG 495B - Internship (with approved Economics focus)

3

PCS 332 - International Political Economy

3

International Business (15 credits from the following list of courses as specified)

BUMK 335 or 335G - Global Marketing

3

PCS 332 - International Political Economy OR

3

BUEC 331G - Global Economy (SE)

CMM 320 - Intercultural Communications OR

3

SOC 206 - Cross Cultural Communications

BUEC 375 - International Trade and Finance OR

3

BUFI 346G - International Finance (SE) OR

BUFI 347G - International Financial Accounting

BUMG 400 - Management Seminar OR

3

PSC 240 - American Foreign Policy OR

PSC 320 - Global Organizations, Politics and Culture OR

PSC 409 - Origin of Modern Global Systems OR

SOC 255 - Globalization of Technology OR

SOC 377 - International Development

BUMG 495B - Internship (with approved International Business focus)

3

Social Innovation and Entrepreneurship (15 credits from the following list of courses as specified)

BUEC 395 - Ecological Economics

3

BUMG 410 - Creating Social Enterprises

4

BUMG 313 - Social Innovation and Entrepreneurship OR

3

ENV 376 - Caribbean Sustainable Development OR

BIO 421 -Conservation & Ecology of a Caribbean Island OR

ENV 348 - Environment, Health and Community Dev in East Africa (OR)

BUMG 495B - Internship (with approved Social Entrepreneurship focus)

ENG 317 - Proposal & Grant Writing AND

3

BUMG 303 - Management of Non Profit Org

3

OR

BUMG 315 Triple Bottom Line Reporting AND

3

BUMG 307 Operation Management

3

Health Sector Management (All 9 credits from the following list and 2 other Department-approved courses.

BUEC 380 or 380G - Health Economics

3

BUMG 400 - Management Seminar

3

BUMG 495B - Internship (with approved Health Sector Management focus)

3

Individualized Concentration - 15 credits (with Advisor Approval)

BUEC 365 - Evolution of Economic Theory

3

BUEC 370 - Money Credit and Banking

3

BUEC 375 - International Trade and Finance

3

BUEC 380 - Economic Development of the United States

3

BUEC 385 - Health Economics

3

BUEC 390 - Environmental Economics

3

BUEC 395 - Ecological Economics

3

BUFI 302- Personal Finance

3

BUFI 321- Investment Management

3

BUFI 322 - Investments

3

BUMG 120 - Innovation through Technology

3

BUMG 295 - Business Internship

3

BUMG 301 - Organizational Behavior

3

BUMG 303 - Mgmt of Non-Profit Orgs

3

BUMG 309 - Hacking the Maine Food System

3

BUMG 313 - Social Entrepreneurship

3

BUMG 314 - Grant Writing

3

BUMG 315 - Triple Bottom Line Reporting

3

BUMG 328 - Employment Law

3

BUMG 360 - Leadership

3

BUMG 400 - Management Seminar

3

BUMG 410 - Creating Social Enterprises

4

BUMG 495B - Internship in Business Administration

3

BUMK 310 - Advertising

3

BUMK 335 - Global Marketing

3

BUMK 350 - Social Media Marketing Strategy

3

BUMK 405 - Sales Management

3

Courses Below offered in Seville Spain:

BUEC 328G - European Union

3

BUEC 331G - Global Economy

3

BUEC 380G - Economic History

3

BUFI 346G - International Finance

3

BUFI 347G - International Financial Accounting

3

BUMG 310G - Organizational Theory

3

BUMK 335G - Global Marketing

3

Honors Program

We offer qualified students the option of graduating with Honors. This includes significant research, scholarship or creative activity under the direction of a faculty member. Interested students should consult with their major advisor.

Tuition and Fees

Tuition and fees for subsequent years may vary. Other expenses include books and housing. For more information regarding tuition and fees, please consult the Financial Information section of this catalog.